The Jackson Wash Project is 16km away from the Company’s NewPerl Project in Nevada. These claim blocks were originally part of the NewPerl Project but for permitting reasons have now been split out into this separate project.
Test results on reconnaissance samples have thus far indicated a significant perlite target for horticultural grade perlite. However, the project area is also prospective for gold and silver.
The claims are currently leased to global gold producer Kinross Gold U.S.A., Inc. (“Kinross”) which also holds an option to purchase the claims at any time before 6 October 2030 for US$500,000 and the grant to Sunrise of a 2.5% Net Smelter Return Royalty.
For Kinross, the Company’s Jackson’s Wash Project claims form part of a larger project area centred on the historic Montezuma silver, gold and mercury mining centre. This is an active exploration area for Kinross and during the reporting period Kinross advised the Company that it is currently planning to increase its exploration activity in the wider project area.
Sunrise retains the right to mine perlite on the Claims during the lease/option period.
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Ridge-forming perlite in foreground and |
Raw perlite from Jackson Wash | Horticultural grade expanded perlite from Jackson Wash |
